Reasonable pressures are being exerted today (7/10) on Athens Stock ExchangeWhile the dividend cuts in Hellenic Energy (0.60 euros), Piraeus (0.06 euros) and Jumbo (1.00 euros) negatively affect the short-term movement.
And this, despite the the weather outside is improvedwith the volatility and uncertainty surrounding the French political scene gradually to occupy second place.
In any case, the important thing for the Greek market is to obtain a satisfactory market safety distance of 1,400 unitsas 1,460 units constitute the main point of resistance.
In this context, the General index small notes losses of 0.45% and is graduated in 1,444.67 units, losing 6.5 points on Tuesday’s close (1,451.22 points).
O diurnal variation arc extends over 12 units (from 1,440.62 to 1,452.46 units), with the volume of business vary in 36 million eurosof which 2.8 million euros relate to pre-agreed packages.
In the picture now, the Hellenic Energy drops at least 5%, h Jumbo loses 3.5%, while Piraeus Street falls less than 1%. On the other hand, the GEK TERNA remains at record levels, approaching 17.5 euros.
Controlled losses in banks
The banking index, influenced by broader sentiment, doubles to -0.69% and 1,260 units6.6% below this year’s high of 1,349 units.
Your stock Piraeus is limited to -0.79% and 3,653 euros, its participation Eurobank its share falls to -1.33% and 2.077 euros Alfa Bank trades at -0.94% and 1.6345 euros, while its share National remains almost unchanged at 7.88 euros.
The first resistance point is 1,460 units
“Brake” on five-day bull run places the Athens Stock Exchange, but no one can have major complaints about the satisfactory progress of the previous days.
And this is because the General Index, on the one hand, is in 50-day moving average (1,447 units), on the other hand built a sufficient safety distance from the critical supports of 1,400 units.
Somehow, now, this year peaks of 1,502 units (closing 5/20) are slowly re-entering the “game”, with the first point of resistance at 1,460 units. However, patience is needed, as challenges lie ahead.
And this is because of the low visibility of investment, the political uncertainty in France, the intense variability and the traditional slowness of summer are factors that can at any time and moment cancel out today’s data.
The positive side is, in any case, that investors are still approaching the unexpected events in Paris with serenity, avoiding intense liquidations and offering a solution unexpected stability of the stock market.
At the same time, the attractive reviews on the Greek board (Average P/E of 8x) are a good entry point for buyers looking to participate in this year’s upward movement, which exceeds +12% by 2024.
“The Greek stock market, being the “cheapest” of the “cheap” European markets, is in a position to attract international funds to the extent that conditions allow even a small change in strategy by managers in relation to the willingness to take on investment risks.commented on the Dimitris Tzanas of Kyklos AHEPEY.
And of course, let’s not forget the successive businesswhich demonstrate the hidden values in many listed companies.
As far as the board is concerned, justified pressure is expected today to manifest itself in the actions of the Jumbo, Helleniq Energy and Piraeussince they will negotiate without right to the 2024 dividend.
Europe on the rise
Abroad now, with all eyes on Paris, European indices show moderate gains, while the Stoxx 600 strengthens to +0.64% and which 515 points. At the same time, French shows an increase of 0.9% CAC 40.
Across the Atlantic, after last night’s new stories S&P 500 recordthe main indicators in Wall Street are expected to open with marginal fluctuations, in anticipation of tomorrow’s inflation data.
(The text above is the product of journalistic research and does not constitute an invitation to buy, sell or hold any stock)